PTC (NASDAQ:PTC) Shares Gap Up After Analyst Upgrade

PTC Inc (NASDAQ:PTC) gapped up before the market opened on Friday after Citigroup raised their price target on the stock from $75.00 to $80.00. The stock had previously closed at $84.63, but opened at $85.07. Citigroup currently has a neutral rating on the stock. PTC shares last traded at $86.78, with a volume of 37,405 shares.

Several other research analysts have also issued reports on PTC. Mizuho increased their target price on shares of PTC from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday. Evercore ISI restated a “buy” rating and set a $104.00 price objective on shares of PTC in a report on Sunday, November 24th. Stifel Nicolaus upped their price objective on shares of PTC from $80.00 to $90.00 and gave the stock a “hold” rating in a report on Thursday. Rosenblatt Securities restated a “buy” rating and set a $105.00 price objective on shares of PTC in a report on Thursday. Finally, BidaskClub upgraded shares of PTC from a “hold” rating to a “buy” rating in a report on Saturday, January 18th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $92.53.

In other news, EVP Kathleen Mitford sold 613 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $73.39, for a total value of $44,988.07. Following the completion of the sale, the executive vice president now owns 20,932 shares in the company, valued at $1,536,199.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO James E. Heppelmann sold 25,000 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $74.65, for a total transaction of $1,866,250.00. In the last 90 days, insiders have sold 25,953 shares of company stock worth $1,937,248. Corporate insiders own 9.91% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio raised its holdings in shares of PTC by 0.5% in the third quarter. Public Employees Retirement System of Ohio now owns 34,694 shares of the technology company’s stock valued at $2,365,000 after purchasing an additional 176 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in PTC by 0.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 25,100 shares of the technology company’s stock worth $1,880,000 after buying an additional 200 shares during the last quarter. First National Bank of Omaha increased its holdings in PTC by 0.7% during the third quarter. First National Bank of Omaha now owns 31,068 shares of the technology company’s stock worth $2,118,000 after buying an additional 218 shares during the last quarter. Colony Group LLC increased its holdings in PTC by 9.2% during the second quarter. Colony Group LLC now owns 3,203 shares of the technology company’s stock worth $288,000 after buying an additional 270 shares during the last quarter. Finally, Brinker Capital Inc. increased its holdings in PTC by 2.7% during the third quarter. Brinker Capital Inc. now owns 10,570 shares of the technology company’s stock worth $721,000 after buying an additional 278 shares during the last quarter. Institutional investors own 86.33% of the company’s stock.

The business’s fifty day moving average is $76.28 and its 200-day moving average is $72.39. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a market cap of $9.23 billion, a PE ratio of 221.70 and a beta of 1.14.

PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, January 22nd. The technology company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.13. PTC had a net margin of 3.38% and a return on equity of 13.16%. The business had revenue of $356.10 million during the quarter, compared to the consensus estimate of $342.74 million. During the same quarter last year, the company posted $0.57 earnings per share. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. Analysts forecast that PTC Inc will post 1.32 EPS for the current year.

About PTC (NASDAQ:PTC)

PTC Inc operates as software and services company in Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx, an industrial innovation platform to develop and deploy industrial Internet of Things applications; and KEPServerEX solution to provide communications connectivity for industrial automation environments to connect, manage, monitor, and control disparate devices and software applications.

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